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Fund investors are confident that they can easily select superior fund managers. They are wrong.

John C. Bogle

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John C. Bogle
Age: 89 †
Born: 1929
Born: May 8
Died: 2019
Died: January 16
Economist
Financier
Investor
Montclair Township
John Clifton Jack Bogle
Jack Bogle
Investing
Easily
Select
Wrong
Investors
Superior
Fund
Confident
Superiors
Managers

More quotes by John C. Bogle

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The miracle of compounding returns has been overwhelmed by the tyranny of compounding costs.
John C. Bogle
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The principal role of the mutual fund is to serve its investors.
John C. Bogle
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While I haven't read economist Robin Hahnel's work, replacing capitalism would be at the very bottom of my list of priorities - to be considered only after everything else had been tried. Improving our capitalistic system however, is at the top of my list and is of course the major theme of The Battle for the Soul of Capitalism.
John C. Bogle
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Income earned by the sweat of your brow should be taxed at the lowest rates, not the highest. Capital gains should be taxed at a higher rate.
John C. Bogle
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The mutual fund industry has been built, in a sense, on witchcraft.
John C. Bogle
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I would always advise young people to follow their star - not my star. They have to live their own life. If they decide they want to go into the investment business, do it, but make it a better business than it is today.
John C. Bogle
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I will create value for society, rather than extract it.
John C. Bogle
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Reversion to the mean is the iron rule of the financial markets.
John C. Bogle
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The courage to press on regardless - regardless of whether we face calm seas or rough seas, and especially when the market storms howl around us - is the quintessential attribute of the successful investor.
John C. Bogle
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Index funds eliminate the risks of individual stocks, market sectors, and manager selection. Only stock market risk remains.
John C. Bogle
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If the data do not prove that indexing wins, well, the data are wrong.
John C. Bogle
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If you're very talented and keep winning, you'll do just fine. It may take a while. But the talent is hard to identify and talent is hard to tell from luck. There's an awful lot of luck in this business. Past performance is not helpful in judging future performance.
John C. Bogle
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I think we all ought to be careful about too much generalization on this issue, even as I confess to painting with a pretty broad brush myself!
John C. Bogle
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If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks.
John C. Bogle
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I believe that the mutual fund industry's biggest shortcoming is too much focus on the momentary price of a stock - an illusion - and too little focus on the intrinsic value of the corporation - the ultimate reality. I'm comforted by the fact that Warren Buffett feels the same way.
John C. Bogle
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The relationship between executive CEO pay, stock performance is tenuous and not easily unscrambled, just one of myriad factors that affect the price of a stock.
John C. Bogle
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In the long run, investing is not about markets at all. Investing is about enjoying the returns earned by businesses.
John C. Bogle
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Among my greatest disappointments about the mutual fund industry - in addition to excessive costs and excessive focus on the short-term - is that fund managers have been passive participants in corporate governance.
John C. Bogle
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Investing is not nearly as difficult as it looks. Successful investing involves doing a few things right and avoiding serious mistakes.
John C. Bogle
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If it is hard to imagine that 20% of losses on the stock market, you should never participate
John C. Bogle